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For the second report you should analyse the organisation using internal and ext

by | Apr 17, 2022 | Business and Management : Business | 0 comments

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For the second report you should analyse the organisation using internal and external data and include: The deep SWOT analysis including the use of at least one growth model of the situation “NOW” Identify the Entrepreneur aspirations, capabilities, and their “VISION”. A triangulation of issues from the Entrepreneur and SWOT analyses to identify the 1-3 most important growth factors that are enablers and inhibitors “The GAP” that then inform: A suggested growth strategy and recommended implementation approach i.e. “HOW”. A suggested approach: 1. Using your small business or a business unit from Report A Based on an small business or a business unit that you can access easily, you will learn more if you are able to visit the organisation more than once. The guidelines for selecting a business are detailed above under the heading Selection of a firm. 2. Secondary Research Use Secondary Research to find out as much as you can about the small business or a business unit and the entrepreneur before your first visit. Start working on a PESTEL and Porter’s -5 forces analysis based on secondary research, although you should ideally use other relevant models too. Begin to read good quality newspapers or magazines such as the Financial Times or the Economist and your local quality business press that comment on the economic and business conditions for different business sectors and in your country / region. Also try to watch/listen to Television, Radio or YOUTUBE programmes that include current affairs. These might give you insight into PESTEL issues and perhaps market issues for the firm you plan to study The outcome from this research will create a positive impression with the entrepreneur and you will be more likely to get greater input from them. 3. Primary Research Prepare a series of questions to ask the entrepreneur about themselves and their vision and views on your PESTEL and 5 Forces analysis (or any other) 4. Begin writing Start to write up the information you have on each section of the report and make notes of the research both Secondary and Primary you need to carried out to complete the Reports. Arrange further visits to the firm and if possible the entrepreneur to get feedback on your work. The second and further visits should become almost informal chats as you should be able to have a well-considered discussion with the entrepreneur having spent time researching the external and internal influences on the business and might be able to impart some useful points to her. Remember you are expected to recommend a growth strategy for the business based on your findings. This may not necessarily be the strategy that the entrepreneur is planning to follow. Also if you discover that the Entrepreneur does not wish to grow their business you should put yourself in the entrepreneur’s role and recommend a growth strategy which is reasonable given the SWOT findings on the business.

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